Financial Daily from THE HINDU group of publications
Monday, Dec 29, 2003
Financial Daily from THE HINDU group of publications Monday, Dec 29, 2003 |
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Agri-Biz & Commodities
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Spices & Condiments Ginger prices soar on short supply G.K. Nair
Kochi , Dec. 28 GINGER prices continued to soar on short supply and increased demand in the market here with the Indian parity moving up to $2,200-2,300 per tonne. Arrivals these days have shrunk to 30 to 35 tonnes a day as against 50 to 60 tonnes in the corresponding days last year. Traders in Muvattupuzha, Perumbavoor, and Kothamangalam used to procure ginger from farmers in various places in the region and dry it and then sold here. But, they said, the availability has now been squeezed by direct sales of raw ginger from the farms as it fetched Rs 18-20 per kg (Rs 9-12 per kg) at farm gate itself. Where as, it was sold at Rs 9-12 per kg at this time last year. The produce from the southern districts are moved out to Tamil Nadu because of the increasing demand there in connection with the forthcoming Pongal festivals. The Sabarimala pilgrimage season has also pushed the demand up, trading sources here told Business Line on Saturday. They said that the dried ginger arrived in the market also contained moisture and even that is sold at Rs 95-102 per kg as against (Rs 45-56 per kg) last year. The price of fully dried ginger was Rs 115 per kg. They said that there had not only been a decline in arrivals from the north eastern States especially from Assam, but also it is delayed. Shortage in the global market following its non-availability from other producing countries such as China, Nigeria etc., has led the international buyers to at India. The exporters who had already committed at low prices in the recent past are finding it difficult to meet the commitments because of the prevailing high prices on the one hand and the non-availability on the other. Exporters are also not ready to buy at the ruling high prices. They are now delaying shipments and seeking extensions.
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